CSGPCoStar Group, Inc.

“Homes AI is the engine behind this engagement search. AI users run nearly 4x as many searches, favorite 7x as many properties and submit 7x as many leads. In April, time on site reached 18 minutes for AI users versus 4 minutes, 32 seconds for non-AI users. Put plainly, when consumers experience Homes AI, they spend roughly 4x longer than they do on conventional residential search. This is precisely the dynamic that precedes meaningful consumer share shift and is exactly the proof point we expected our AI investment to produce.”

“In Q1, Apartments.com introduced Smart Search, our natural language search feature and the first AI-powered voice search in multifamily. Smart Search lets renters search the way they speak, packing every detail and even multiple locations into a single query. Results are faster, more detailed and dramatically more efficient. The early metrics are really strong. Renters who use Smart Search spend 94% more time on site and view 63% more listings.”

“Real Estate Manager added AI lease abstraction capabilities to the Visual Lease platform this quarter, and we will extend these capabilities to CoStar Real Estate Manager later this year. Customers are eager to bring this best-in-class capability into the lease management and accounting workflows to save them a lot of time and hassle.”

“Based on the strength of the first quarter and the expectation of continued personnel expense efficiencies, we now expect adjusted EBITDA to range from $780 million to $820 million. This is an increase of $30 million at its midpoint and a full percentage point increase in margin.”

“We're also deploying multiple AI agents internally to accelerate customer onboarding, support enablement and the automation of repeatable professional services work.”

“Consumer engagement on Homes AI is multiples of conventional residential search, and Homes.com is the fastest-growing residential portal in the United States.”

“We launched a client advisory committee with over a dozen institutions to shape the loan origination road map, deepen understanding of how AI is reshaping their workflows, and strengthen product-market fit. Across the platform, debt solutions is actively building these AI-enhanced workflows.”

“Ahead of the June Apartmentalize trade show that NAA hosts, the big show of the year, we will launch Apartments AI, our pioneering conversational search experience built on the same technology powering Homes AI.”

“The outperformance in adjusted EBITDA was primarily due to lower personnel costs from cost-saving efforts as we continue to find efficiencies from AI, personnel and other expense initiatives.”

“In Q2, we'll continue building AI search functionality as we progress towards integrating OnTheMarket into the Homes.com software environment in 2027.”

“Our new March ad showcased Homes AI in action, and I have received more positive feedback on this campaign than any of our prior Homes.com campaigns.”

“Matterport is already a key component of Homes AI and will unlock huge future AI innovation all across CoStar Group.”

“we enter that this year with incredibly strong product with Apartments AI, Homes being a major contributor.”